The government announced today that social security payments will not go up in 2010 and probably not in 2011. This is how it works in America today. We funnel $13 billion of taxpayer money through AIG directly to Goldman Sachs initiated by the former CEO of Goldman Sachs. We know that Alan Greenspan changed the calculation of CPI so that it has consistently run 4% to 5% below real inflation for decades. So, we systematically screw the poor while systematically rewarding the rich.
So, Granny will have to make do. Of course, the 3 things that matter most to senior citizens continue to go up in price.
Medical care +3.2%
And over the last 8 months, gasoline prices have doubled. I sure hope the Goldman Sachs partners enjoy their $100 million bonuses while Granny eats dog food.